Tiraspol, 18 August. /Novosti Pridnestrovya/. The prime minister held a meeting with the management of Moldovan Steel Works (MMZ), during which he was informed about the plant's work since the start of the year. As the government press service recalls, MMZ completely changed its management in January 2017, and the financial transparency requirements were increased.
Opening the meeting, the prime minister noted that MMZ is a backbone enterprise of the country and emphasised the situation at the beginning of the year when the previous management wiped out the working assets. With a negative balance of $33 million, the enterprise was actually deprived of the opportunity to launch production. And those were not the only negative indicators. Debts on various loans, as well as for energy carriers, amounted to tens of millions of dollars. MMZ has already partially repaid the debts since then.
«Loans given by Pridnestrovian banks had amounted to $31.7 million. Over this period we repaid about $234,000. As for all kinds of taxes, we paid $2.8 million in taxes in January-July 2016. In the same period of 2017, this amount increased by 30% to $3.6 million. MMZ contributed to the country's economy $22.3 million in payments to the budget and all types of organisations," said Sergey Kornev.
Production rates also grew. If over seven years of 2016 the plant produced 63,000 tonnes of cast billet, during the same period of this year it produced 195,000 tonnes. MMZ also increased the production of rolled metal 193,000 tonnes this year against 161,000 tonnes in 2016. The shipping rate increased from 167,000 tonnes in 2016 to 190,000 tonnes in 2017.
According to the CEO, the enterprise is using over half of its capacity today. This positive trend has been made possible by the elimination of grey schemes and direct cooperation with suppliers and customers.
Successful work has resolved a number of technical and social issues. MMZ has also increased salaries for its employees.
«In April, there was a scheduled overhaul to replace the consoles. This was an important work that had been planned for three years, but we had found funds for it. In past years employees had not been provided with the uniform and protective equipment. We have solved this issue. In the autumn, we plan to open a medical centre Metallurgist," concluded the CEO.
The monthly meetings of the Board of Directors do not only make the work of the enterprise more transparent but also address many issues quickly.
«The Board of Directors includes many state officials, and the Chairman of the Board is the minister of economic development. This is yet another example of how much more transparent is the work of JSCs compared to GUPs. If such companies involve 100% participation of the state, this means a board of directors, an audit commission and transparency," noted the prime minister.
Alexander Martynov thanked MMZ's management and employees for their successful work this year and wished them to achieve even more positive results.
